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FCR recommends cutting exposure to equities to 50% amidst expectations on overall Interest rates and tax hikes

First Capital Research (FCR) recommends investors to limit the exposure to equities to 50% or to aggressively shiftportfolio to defensive counters amidst expectations on overall Interest rates rise and a…

Back to the ‘smaller pond’: MSCI to downgrade Pakistan to Frontier Market

Pakistan was downgraded from its status as an emerging market, a little over four years after it was reclassified from the Frontier Markets (FM) Index by Morgan Stanley Capital International…

Sri Lanka becomes first in Asia to tighten policy in pandemic-era

(Reuters) – The Central Bank of Sri Lanka (CBSL) became the first in Asia on Thursday to raise interest rates since the pandemic began, as it acted to stem inflationary…

166,284 Credit Cardholders in Sri Lanka on CRIB’s Blacklist

166,284 Credit Cardholders in Sri Lanka were placed on the Credit Information Bureau’s (CRIB) blacklist with Rs.16 billion in arrears by the end of Q12021, CRIB data showed. Defaulted Credit…

Sri Lanka’s FX reserves hit a new low of $ 4.02 billion in May

Sri Lanka’s gross official foreign exchange reserves tumbled to $ 4.02 billion at end of May from $4.5 billion a month ago as the country faces $3.5 billion external debt…

Fitch Ratings Expects IMF Board to Approve Proposed SDR allocation in August

Fitch expects the new general special drawing rights (SDR) allocation to be approved by the IMF’s board of governors, likely in August. The move will raise foreign exchange reserves for…

New Investor to soon acquire Breadtalk’s Sri Lankan franchisee

RIL Properties PLC is progressing with negotiations with a potential investor to dispose of its entire stake in FoodBuzz (Private) Limited which owns franchise rights of BreadTalk in Sri Lanka. The…

Bangladesh Offers $500M Lifeline to Sri Lanka ahead of $1B Dollar Bond Maturity

In a first for Bangladesh, the country has extended a lifeline of sorts to the beleaguered Sri Lankan economy, offering to top up the island nation’s depleting foreign reserves by…

Sri Lanka’s Banking Sector’s MSME Lending Portfolio Among Weakest in Asia-Pacific

Despite much hype, Sri Lanka’s banking sector’s to Micro, Small and Medium-sized Enterprises (MSMEs) lending portofolio is one of the poorest in the Asia-Pacific region in terms of loan disbursements…

Sri Lanka Signs $500M emergency loan agreement with China as rupee hits record low

Sri Lanka secured a US$500 million loan from China Monday (Apr 12) in a desperate bid to shore up its foreign exchange reserves as the local currency hit a record…